Earnings from Greyhounds

  • Thread starter danpaddyandy
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danpaddyandy

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Greetings,
Boring thread I know but can anyone tell me if earnings from greyhounds i.e.prize money,sale of pups,stud fees etc qualify for any sort of taxbreaks.
I know there are tax breaks for the horsey industry but does the same apply to the doggies.....
 
Nope. However the Revenue may refuse to treat hobby activities of this nature as a taxable trade, as in that case they would be compelled to allow trading losses as a deduction against other income.

The tax breaks for certain stallion services are quite specific and do not extend to all equestrian activities.
 
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